ANNUITIES
Definition- An agreement with you and another party where money is deposited and later returned in a series of payments.
THREE COMMON FORMS OF ANNUITIES:
Public Annuities- Social Security
Private Annuities- Pensions
Asset Backed Annuities- Insurance Company
The two primary reasons to have an Annuity are:
*You want to save money tax-deferred for a long-range security goal.
*You want a guaranteed income stream for a certain period of time or for life.
The two primary reasons to have an Annuity are:
*You want to save money tax-deferred for a long-range security goal.
*You want a guaranteed income stream for a certain period of time or for life.
The two primary reasons to have an Annuity are:
*You want to save money tax-deferred for a long-range security goal.
*You want a guaranteed income stream for a certain period of time or for life.
There are basically three components to an Annuity:
*The Accumulation phase- The money you put into the annuity earns interest and grow tax-deferred, you won’t owe taxes until you make withdrawals.
*The Payout phase- The insurance company pays income to a designated person and typically have the flexibility to choose how the funds will be paid.
*Rate Of Return- The guaranteed interest rate or chosen allocation term and participation rate.
There are basically three components to an Annuity:
*The Accumulation phase- The money you put into the annuity earns interest and grow tax-deferred, you won’t owe taxes until you make withdrawals.
*The Payout phase- The insurance company pays income to a designated person and typically have the flexibility to choose how the funds will be paid.
*Rate Of Return- The guaranteed interest rate or chosen allocation term and participation rate.
There are basically three components to an Annuity:
*The Accumulation phase- The money you put into the annuity earns interest and grow tax-deferred, you won’t owe taxes until you make withdrawals.
*The Payout phase- The insurance company pays income to a designated person and typically have the flexibility to choose how the funds will be paid.
*Rate Of Return- The guaranteed interest rate or chosen allocation term and participation rate.
There are two common ways Annuity payments are distributed:
*Immediate- Payments begin almost immediately following the premium payment.
*Deferred- When the contract is opened, a term is chosen, which is the number of years until the principal is guaranteed and the surrender period is finished.
There are two common ways Annuity payments are distributed:
*Immediate- Payments begin almost immediately following the premium payment.
*Deferred- When the contract is opened, a term is chosen, which is the number of years until the principal is guaranteed and the surrender period is finished.
There are two common ways Annuity payments are distributed:
*Immediate- Payments begin almost immediately following the premium payment.
*Deferred- When the contract is opened, a term is chosen, which is the number of years until the principal is guaranteed and the surrender period is finished.
Single Premium Immediate Annuity- A SPIA is an insurance product that provides the buyer a guaranteed stream of income in exchange for a lump sum of money. The buyer can choose to be paid over a certain period of years or lifetime.
Single Premium Immediate Annuity- A SPIA is an insurance product that provides the buyer a guaranteed stream of income in exchange for a lump sum of money. The buyer can choose to be paid over a certain period of years or lifetime.
Single Premium Immediate Annuity- A SPIA is an insurance product that provides the buyer a guaranteed stream of income in exchange for a lump sum of money. The buyer can choose to be paid over a certain period of years or lifetime.
Fixed Annuity or Multi Year Guaranteed Annuity- A MYGA is an insurance product that promises to pay the buyer a specific guaranteed interest rate on their contribution to the account following the completion of designated accumulation period of the contract.
Fixed Annuity or Multi Year Guaranteed Annuity- A MYGA is an insurance product that promises to pay the buyer a specific guaranteed interest rate on their contribution to the account following the completion of designated accumulation period of the contract.
Fixed Annuity or Multi Year Guaranteed Annuity- A MYGA is an insurance product that promises to pay the buyer a specific guaranteed interest rate on their contribution to the account following the completion of designated accumulation period of the contract.
Fixed Indexed Annuity- A FIA is a long-term investment that provides principal protection, guaranteed lifetime income, and the opportunity for growth from a fixed interest rate or interest based on the performance of an external index. Assets are not directly invested in an external index, and interest is tax-deferred.
Fixed Indexed Annuity- A FIA is a long-term investment that provides principal protection, guaranteed lifetime income, and the opportunity for growth from a fixed interest rate or interest based on the performance of an external index. Assets are not directly invested in an external index, and interest is tax-deferred.
Fixed Indexed Annuity- A FIA is a long-term investment that provides principal protection, guaranteed lifetime income, and the opportunity for growth from a fixed interest rate or interest based on the performance of an external index. Assets are not directly invested in an external index, and interest is tax-deferred.
NOTICE: Annuities are products of the insurance industry and are not guaranteed by any bank nor insured by FDIC or the NCUA/NCUSIF. They may lose value. Annuities have no bank or credit union guarantee, not a deposit, and not insured by any federal government agency. May only be offered by a licensed insurance agent.
Questions or Comments
I welcome your questions or comments regarding Annuities. Thank you!
Contact
brians@socali4niainsurance.com (951) 204-2745